Farm-out of Epameno PSC

BowLeven Plc
10 April 2007



10 April 2007


BowLeven plc ('BowLeven' or 'the Company')


Farm-out of Epaemeno PSC


BowLeven announces that its wholly-owned subsidiary GGPC Gabon (Epaemeno) Ltd
has entered into an agreement with Addax Petroleum Epaemeno Ltd, a wholly owned
subsidiary of Addax Petroleum Corporation ('Addax Petroleum'), to farm-out half
of its existing 100% interest in the Production Sharing Contract ('PSC')
covering the 1,340 km2 Epaemeno Block located onshore Gabon. Under the terms of
the PSC, the assignment requires the consent of the Government of Gabon.


In return for being assigned a 50% interest, Addax Petroleum has committed to
spend the first $20 million of gross exploration costs on the block, equivalent
to a $10 million carry for BowLeven. In addition, in the event of a commercial
discovery, Addax Petroleum has committed to spend the first $16 million of
development costs, equivalent to an $8 million carry for BowLeven.


It is intended that Addax Petroleum will become Operator of the PSC and that
BowLeven will provide technical support under a Technical Service Agreement
('TSA'). Under the TSA BowLeven will retain the role of carrying out seismic
interpretation and will be responsible for proposing the location of exploration
drilling to the joint venture.


Work is currently being undertaken to reprocess and re-interpret an old 2D
seismic dataset which exists over the Epaemeno contract area. Based on the
outcome of this work BowLeven and Addax will decide whether it is necessary to
acquire further seismic prior to proceeding with exploration drilling.

Addax Petroleum has interests in two adjoining blocks directly to the South of
the Epaemeno contract area. Both of these blocks contain existing discoveries.


Commenting on the transaction Kevin Hart, BowLeven's CEO, said: 'We are 
delighted to bring in Addax Petroleum as our partner in Epaemeno. Their
extensive experience and technical knowledge of the area will augment our own
and should enhance our chances of making a commercial discovery on the acreage.'


Commenting today, Addax Petroleum's President and Chief Executive Officer, Jean
Claude Gandur, said: 'The addition of the Epaemeno license area to our
exploration portfolio in Gabon is in line with our strategy of building out from
our existing properties and operating infrastructure. We are delighted to
partner with BowLeven and, as the intended operator of Epaemeno, believe that
exploration activity can be integrated effectively with our ongoing development
and exploration activities in Gabon.'



ENQUIRIES


For further information contact:


BowLeven plc

John Brown, Finance Director                    00 44 131 260 5100
Peter Wilson, Commercial Director
Ed Willett, Deputy Exploration Director


Brunswick Group LLP

Patrick Handley                                 00 44 207 404 5959
Deborah Spencer






Notes to the Editor:


BowLeven is an African oil and gas group, based in Edinburgh and traded on AIM
since December 2004.

BowLeven holds, through its wholly-owned subsidiary EurOil Limited, a 100%
equity interest in the Etinde Permit area being three shallow water blocks in
offshore Cameroon, West Africa; namely Blocks MHLP 5, MHLP 6 and MHLP 7. In
total BowLeven has approximately 2,300 km2 of exploration acreage located across
the Rio del Rey and Douala basins in the Etinde Permit. Bowleven has operated in
Cameroon since 1999.

The Cameroon Government has recently announced a cooperation agreement with the
Government of Equatorial Guinea to investigate a project to export gas from
Cameroon to the gas liquefaction plant on Bioko Island on Equatorial Guinea. It
is proposed that Limbe would be the gathering hub for any such scheme.

BowLeven also holds, following the completion of this transaction, through its
wholly-owned subsidiary FirstAfrica Oil, a 100% equity interest in the EOV
offshore block in Gabon, which contains an existing oil discovery that it is
seeking to develop, and a 50% equity interest in the Epaemeno Block which is
1,340 km2 of exploration acreage in onshore Gabon which sits next to a number of
recent discoveries in surrounding blocks.

About Addax Petroleum

Addax Petroleum is an international oil and gas exploration and production
company with a strategic focus on Africa and the Middle East. Addax Petroleum is
one of the largest independent oil producers in West Africa and has increased
its crude oil production from an average of 8,800 bbl/d for 1998 to an average
of approximately 108,000 bbl/d for the fourth quarter of 2006. Further
information about Addax Petroleum is available at www.addaxpetroleum.com or at
www.sedar.com



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